AutoNation (NYSE:AN) Shares Down 5.2% on Analyst Downgrade

AutoNation, Inc. (NYSE:AN) dropped 5.2% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $195.00 to $175.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. AutoNation traded as low as $161.68 and last traded at $161.77. Approximately 218,659 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 436,250 shares. The stock had previously closed at $170.72.

A number of other research analysts also recently weighed in on AN. Evercore ISI increased their target price on AutoNation from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of AutoNation from $170.00 to $194.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. StockNews.com raised shares of AutoNation from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of AutoNation in a research note on Wednesday, February 12th. Finally, Stephens upped their price objective on AutoNation from $195.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Boston Partners grew its stake in AutoNation by 12.6% during the fourth quarter. Boston Partners now owns 1,814,228 shares of the company’s stock valued at $309,312,000 after acquiring an additional 203,335 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in shares of AutoNation by 50.3% in the fourth quarter. Brave Warrior Advisors LLC now owns 1,461,213 shares of the company’s stock worth $248,172,000 after purchasing an additional 488,904 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of AutoNation by 63.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,104,934 shares of the company’s stock worth $187,662,000 after buying an additional 426,882 shares in the last quarter. State Street Corp boosted its stake in AutoNation by 2.3% during the third quarter. State Street Corp now owns 854,034 shares of the company’s stock valued at $152,804,000 after buying an additional 19,037 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in AutoNation by 23.3% during the 4th quarter. Alliancebernstein L.P. now owns 851,870 shares of the company’s stock valued at $144,682,000 after buying an additional 160,794 shares in the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.

AutoNation Trading Down 4.3 %

The firm has a market cap of $6.41 billion, a P/E ratio of 9.64, a P/E/G ratio of 3.51 and a beta of 1.32. The stock has a 50 day simple moving average of $180.29 and a 200-day simple moving average of $173.65. The company has a current ratio of 0.74, a quick ratio of 0.21 and a debt-to-equity ratio of 1.39.

AutoNation (NYSE:AN) last released its quarterly earnings results on Tuesday, February 11th. The company reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.26 by $0.71. AutoNation had a net margin of 2.59% and a return on equity of 30.48%. On average, equities research analysts expect that AutoNation, Inc. will post 18.15 EPS for the current fiscal year.

AutoNation Company Profile

AutoNation, Inc, through its subsidiaries, operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Premium Luxury. It offers a range of automotive products and services, including new and used vehicles; and parts and services, such as automotive repair and maintenance, and wholesale parts and collision services.